How are communism and socialism different from capitalism?

By Todd Liles How are communism and socialism different from capitalism?
Capitalism versus communism

The conversation was heated.  It was a dinner table conversation that turned to politics.  They say political conversations never makes for good company, but we all agreed to go there anyway.

My viewpoints and arguments support a democratic capitalist society.  However, not everyone shared my viewpoint at the dinner table.   As a matter of fact, when I asked one of my follow dinner mates “what political system do you prefer?” the answer was communism.    I will freely admit that I didn’t like that answer.

I’m a business owner.  My business is helping other businesses make more money.  For me, the idea of communism or socialism is appalling.   However, I found myself asking the basic question:

“How are Communism and Socialism different from Capitalism?”

Capitalism defined

  •  private ownership
  •  competitive markets
  •  value is an agreement between two parties
  •  you have the freedom to say “yes, no, let’s negotiate”
  •  a “class system” is naturally defined

The world of capitalism is one where people are rewarded for things of value.    What is of value, is determined by the marketplace.   This doesn’t provide for a guaranteed source of income. However, it does provide the motivation for an economy to grow, and for a group of people to create.

Capitalism is the driving force for and growth and invention.

 Communism defined

  •  “common” ownership
  •  government controlled markets, if any markets
  •  no class distinction
  •  goods, support, and services are given by “need”

 Socialism defined

  •  “social” ownership
  • government controlled markets, if any markets
  • no class distinction
  •  value is determined by a standard “labor hour”

Communism and socialism are close cousins. In my attempt to determine the difference, I concluded they are essentially the same. The primary difference is in the name. I’m convinced the names are different, because Communism is not a popular word in America.

Question:  Would you give up your right for ownership and the potential for economic gain for a guaranteed set of living conditions?

What SETs Us Apart?

Proactive Business Plans

A proactive business is a successful business. That's why our team takes the time to make sure every client has a proactive, not reactive, business plan. Our strategies make your business run more smoothly and profitable.

Proven Results

Our training services help businesses identify and achieve their key performance indicators (KPIs). Whether it's increased revenue or higher satisfaction rates, our methods allow you to see immediate and continued results.

Personalized Training

Our team of experts works hard to make sure your business gets personalized training. We'll work with your team one-on-one or in group settings to set and achieve your business goals. We develop training based on your goals!

Prioritizing People

We believe that people are the most valuable asset. We strive to provide outstanding benefits, life balance, leadership, and support to our team. We believe in helping people reach their greatest level of growth, contribution and satisfaction.

Success Stories

I've increased my sales from $250,000 a year to over $400,00! This really works.

-Scott Putman, Putman Plumbing

Success Stories

Over $2,400,000 in sales my second year after training with SET!

-Chris Yanez, Selling Tech

Success Stories

I sold $18,867 on my first call after SET's Press Play for Sales event series!

-Jake Pettit, Selling Tech

Success Stories

We have been with Service Excellence Training since 2015 and believe it is an integral part (training, coaching, mentoring) to our overall business model.

-Judy Mueller-Hyde, Director of Operations
Hydes HVAC Company Logo

Trusted By

horizontal red and purpler plumbtite logo
142 Cimarron Park Loop, Ste E, Buda, TX 78610
Join our newsletter
© 2024 Service Excellence. All Rights Reserved
Website by Leadhub